Nama seeks over €100m

Sources believe that the agency is now considering appointing receivers to take control of Quinlan’s overseas assets including the Georgia Club

T
he financier Derek Quinlan had outstanding loans of €102m on luxury
residential properties and development land seized last week by the National
Asset Management Agency (Nama).

Nama also issued demands to Quinlan’s wife and daughter to repay loans worth a
combined €15m.

The Quinlan loans related to Dublin properties on Raglan Road, Ailesbury Road,
Ailesbury Wood, Fitzwilliam Square and in Mount Merrion. All are rented out
or up for sale.

Nama also demanded the repayment of a €3.6m loan on an apartment in the
Merrion hotel held jointly by Quinlan and his wife Siobhan. This is
understood to now be under offer. It has also sought €11.7m owed jointly by
Quinlan and his daughter Caroline Brooks on a development site on the
Glenamuck Road in Foxrock, south Dublin, and four maisonettes and an
adjoining house on Grosvenor Lane in Dublin.